All Topics / Legal & Accounting / Claiming deductions on future PPR

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  • Profile photo of rh123rh123
    Member
    @rh123
    Join Date: 2008
    Post Count: 1
    January 9, 2008 - 5:38 am

    Hi

    Could someone please confirm whether or not it's possible to claim deductions on a property that has been purchased as a PPR but currently tenanted… i.e. first home owners grant has been claimed + concessional stamp duties etc however the property will be rented for the first 4.5 months of ownership as an existing lease is in place.  Can interest, rates etc be claimed over this period??

    Cheers

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    January 10, 2008 - 1:06 pm

    should be ok as long as it is being rented. but CGT would apply during htis period.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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